Lionel is an unmarried law student at State University LawSchool, a qualified educational institution. This year Lionelborrowed $24,000 from County Bank and paid interest of $1,440.Lionel used the loan proceeds to pay his law school tuition.Calculate the amounts Lionel can deduct for interest on highereducation loans under the following circumstances:
Lionel's AGI before deducting interest on higher-education loansis $50,000. What is the deductible Interest Expense?
Lionel's AGI before deducting interest on higher-education loansis $74,000. What is the Deductible Interest Expense?
Lionel's AGI before deducting interest on higher-education loansis $90,000. What is the Deductible Interest Expense?
